Canadian data due out at the bottom of the hour

The Canadian dollar is in the midst of a three-day slide that kicked off with Bank of Canada Governor Poloz saying a rate cut is still 'on the table' on Wednesday.

The focus shifts to economic data now with inflation and retail sales data due at 8:30 am ET (1330 GMT).

Globally, there have been some surprisingly strong CPI numbers in December but expectations for Canada are for a flat reading following a 0.4% decline in November. However, year-over-year prices are expected to rise 1.7%, up from 1.2% in Nov.

The Bank of Canada is also out with its three measures of core inflation for the second time. They're common, media and trim CPI. The BOC takes them as an input for underlying inflation.

At the same time, retail sales numbers are due for November. The consensus is for a 0.5% rise and a flat reading ex-autos.

For more, check the economic calendar.